Insurance Question

Discussion in 'Business Operations' started by DaveRave07, Apr 15, 2005.

  1. DaveRave07

    DaveRave07 LawnSite Member
    from NY
    Posts: 69

    I've got an insurance question. First off, how many customers ask you whether or not you have insurance? I am in my first year and have yet to buy insurance because I don't think I have to money to do so just yet. I've gotten two calls and both have asked if I was insured and when I said no they went on to somebody else. I just wanted to know if this was a common thing for people to ask.

    Also, how much are people paying for their insurance. I think I would be targeting the minimum amount of insurance. Also any special place to go for small business insurance. Or any suggestions for the upstate NY area. Thanks a lot.
     
  2. marko

    marko LawnSite Senior Member
    Posts: 963

    I am just starting out again, but I never had anyone ask before except for the commercial accounts. In NY I bet its more expensive that a lot of places, but the thing to think about is can you afford not to have it? I would check with several independant agents, tell them what you are doing, and let them do the checking. Your cost will be based on your area, experience, and payroll. When i was a kid I mowed and never had it and was just fortunate to not have any accidents. I look back now and wonder what would have happened if I would have injured someone, major damage to a house etc. I pay +- $400/yr just for business/spraying insurance.
     
  3. A+ Lawncare

    A+ Lawncare LawnSite Senior Member
    Posts: 503

    whats your liabilty coverage, .5 million or less for $400?
     
  4. DaveRave07

    DaveRave07 LawnSite Member
    from NY
    Posts: 69

    I can afford 400/yr., I thought it would be more. I guess I will shop around.
     
  5. marko

    marko LawnSite Senior Member
    Posts: 963


    $1,000,000 through Allied. I was quoted $600 -$700 but one agent said since I was covered before w/ no losses it would be cheaper. This is my first year and Im part time so I estimated the minimum on Payroll. It was $375 w/ no payroll.
     
  6. A+ Lawncare

    A+ Lawncare LawnSite Senior Member
    Posts: 503

    yea i've heard for .5 million coverage around $500-800..... $1 million coverage for like $1k-1,500...... there's so many factors to consider though for quotes so its hard to give an accurate quote..... i'm no insurance consulant by any means, just shooting some # outta the breeze that i've heard from others in the buiz.
     
  7. Tharrell

    Tharrell LawnSite Silver Member
    Posts: 2,964

    Farm Bureau $25 to join and $204 for 1mil, includes pest. That price is good for under $17500 volume.
     

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